4 Key Current Affairs and News Update 27th August 2015

current affairs banner

4 Key Current Affairs & News Update 27th August 2015

1. CCEA gives nod to Differential Royalty Payment to states on crude oil production

Crude Oil - New - News Updates 27th August

Crude Oil – New – News Updates 27th August

The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal for payment of differential royalty in respect of 28 discovered fields to the respective State Governments concerned. These 28 discovered fields were awarded by the Union Government to different companies in states of Arunachal Pradesh, Assam and Gujarat during the years 1994-95, 2001 and 2004. The royalty payment will be through budgetary allocation from the year 2015-16 onwards instead of Oil Industry Development Board (OIDB) fund. Financial Implication: The estimated expenditure for the year 2015-16 based on this payment mechanism has been estimated at 56 crore rupees of which 30 crore rupees for Arunachal Pradesh and 26 crore rupees for Gujarat. This expenditure is calculated assuming average crude oil price of 50 US dollars per barrel and one US dollar being equivalent to 60 rupees. Read More

2. Union Cabinet gives nod to amend Arbitration and Conciliation Bill, 2015

Union Cabinet - News Updates 27th August

Union Cabinet – News Updates 27th August

Union Cabinet has given its nod for amendments to the Arbitration and Conciliation Bill, 2015. These amendments seek to make of commercial disputes more user-friendly and cost effective which in turn will lead to expeditious disposal of cases. Key Provisions of Bill Mandatory for arbitrators to settle disputes within 12 months. This period can be extended by 6 months only by a court on sufficient cause. Cut the fees of arbitrators if the court finds that the delay has been caused due to arbitrators. Rewarding arbitrators with extra fees in case the matter is disposed of within 6 months and the parties agree to pay more. Read More

3. Cabinet gives nod to include Sipai, Patni, Jamat Kahar and Tanwar Singhariya in the OBC list

Union Cabinet - News Updates 27th August

Union Cabinet – News Updates 27th August

Union Cabinet gave its nod to amend the Central List of Other Backward Classes (OBCs) for Gujarat and Uttarakhand for inclusion of Sipai and Patni Jamat or Turk Jamat (all Muslims) from Gujarat and Kahar, Tanwar Singhariya from Uttarakhand in the list. Decision to make suitable amendments in the Central List of OBCs was taken Union Cabinet meeting chaired by Prime Ministeri Narendra Modi based on advice from the National Commission for Backward Classes (NCBC). This inclusion will enable the persons belonging to these communities/castes to avail the benefits of reservation in Government services as well as in Central Educational Institutions as per the existing reservation policy. It will also make them eligible to get benefited by various Union Government welfare schemes, scholarships etc, which are presently available to persons belonging to the OBCs mentioned in the list. Read More

4. India, Egypt ink two MoUs for Cooperation in Tourism, Scientific and Technical Cooperation

India, Egypt – News Updates 27th August

India, Egypt – News Updates 27th August

India and Egypt have signed two Memorandum of Understandings (MoUs) in the field of Tourism, Scientific and Technical. These MoUS were signed during the visit of Union External Affairs Minister Sushma Swaraj to Egypt in Egypt. Signed MoUs are MoU on Cooperation in the field of Tourism: It seeks to enhance the bilateral cooperation in the field of Tourism, Hospitality and Human Resource Development (HRD) between both nations. It also seeks to draw up a road map to enhance cooperation and establish a Joint Working Group (JWG). MoU Scientific and Technical Cooperation: Signatory parties are Council of Scientific and Industrial Research (CSIR) of India and National Research Center (NRC) of Egypt. It seeks to support extension and promotion of cooperation in Technology Development and Scientific Research in fields of mutual interest of both countries. Read More


News Stories from earlier this month
26 August 2015
25 August 2015
24 August 2015
23 August 2015
22 August 2015
21 August 2015
20 August 2015
19 August 2015
18 August 2015
17 August 2015
15 August 2015
14 August 2015
13 August 2015
12 August 2015
11 August 2015
10 August 2015
 8 August 2015
 7 August 2015
 6 August 2015
 5 August 2015
 3 August 2015
 2 August 2015
 1 August 2015

Comment Here

Leave a Reply